Bank of N.T. Butterfield & Son (NYSE:NTB) Reaches New 52-Week High – What’s Next?

Shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $59.36 and last traded at $58.64, with a volume of 2288 shares. The stock had previously closed at $58.46.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NTB shares. Weiss Ratings upgraded Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, April 6th. Zacks Research cut Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, Wells Fargo & Company upped their price objective on shares of Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.33.

Bank of N.T. Butterfield & Son Trading Up 0.5%

The stock’s 50-day moving average is $56.21 and its 200-day moving average is $52.78. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of 10.15 and a beta of 0.51.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings data on Tuesday, March 31st. The bank reported $1.55 EPS for the quarter. Bank of N.T. Butterfield & Son had a return on equity of 21.92% and a net margin of 30.22%.The company had revenue of $155.93 million for the quarter. On average, equities analysts predict that Bank of N.T. Butterfield & Son Limited will post 6.1 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Wednesday, May 13th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $2.00 annualized dividend and a yield of 3.4%. Bank of N.T. Butterfield & Son’s payout ratio is 34.60%.

Insider Activity at Bank of N.T. Butterfield & Son

In other Bank of N.T. Butterfield & Son news, Director Mark T. Lynch purchased 10,000 shares of Bank of N.T. Butterfield & Son stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average price of $56.49 per share, with a total value of $564,900.00. Following the completion of the acquisition, the director owned 234,794 shares of the company’s stock, valued at approximately $13,263,513.06. This trade represents a 4.45% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.19% of the company’s stock.

Institutional Trading of Bank of N.T. Butterfield & Son

Several institutional investors have recently added to or reduced their stakes in the stock. Seelaus Asset Management LLC grew its position in shares of Bank of N.T. Butterfield & Son by 4.1% in the 4th quarter. Seelaus Asset Management LLC now owns 6,275 shares of the bank’s stock worth $313,000 after acquiring an additional 250 shares in the last quarter. Raymond James Financial Inc. boosted its stake in Bank of N.T. Butterfield & Son by 5.6% during the 3rd quarter. Raymond James Financial Inc. now owns 6,162 shares of the bank’s stock valued at $264,000 after purchasing an additional 328 shares during the period. Bell Investment Advisors Inc boosted its position in shares of Bank of N.T. Butterfield & Son by 284.4% during the third quarter. Bell Investment Advisors Inc now owns 615 shares of the bank’s stock worth $26,000 after buying an additional 455 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Bank of N.T. Butterfield & Son by 33.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,802 shares of the bank’s stock worth $95,000 after purchasing an additional 456 shares in the last quarter. Finally, Cerity Partners LLC grew its position in Bank of N.T. Butterfield & Son by 3.2% in the 2nd quarter. Cerity Partners LLC now owns 14,779 shares of the bank’s stock valued at $654,000 after buying an additional 457 shares in the last quarter. 62.73% of the stock is owned by institutional investors and hedge funds.

Bank of N.T. Butterfield & Son Company Profile

Bank of N.T. Butterfield & Son Limited, commonly known as Butterfield, is a Bermuda-based provider of banking and wealth management services. Founded in 1858, the firm has grown from a local colonial bank into an international financial institution. With a focus on personalized client service, Butterfield offers a comprehensive suite of banking and fiduciary solutions to private individuals, families, and corporate clients.

The bank’s core activities include private banking, retail and commercial lending, trust and corporate administration, and fund services.